Tuesday 26 August 2008

Mortgage approvals down (again)

What a difference a year makes. July 2007 was the last month before the credit crunch. Back then, banks were approving around 65 thousand loans a month. This July, banks approved just over 20,000.

No credit=no housing bubble.

3 comments:

Anonymous said...

It all fits:

Interbank lending down by about two thirds; mortgages down by about two thirds...

House prices more than tripled 1996-2007; now they have to go down by about two thirds too...

B. in C.

Anonymous said...

Now, now B in C. Don't let's talk ourselves into a recession.

Nick

Anonymous said...

Into?

B. in C.